$QQQ Has Reached It’s Upside Target

The post above lays out my expectation for when the market will pullback. It hit that zone today. If we are still in a stage 4 decline, the rejection of the market should start tomorrow or early next week. This will confirm a lower high which is still in a bearish trend.

I know everyone is now bullish, but it’s wayyyyyy too early to be bullish. $SPY and $QQQ are still in considerable downtrends on the weekly.

joseph's avatar
Definitely watching this for the rest of the week.
Preston | Investor Insight's avatar
@jdub I think this is the last push before further pullback on the market. It could start next week as we have had nothing but vertical price action over the past 2 weeks.
joseph's avatar
@investorinsight so would you buy the SQQQ in that case?
Preston | Investor Insight's avatar
@jdub if you want leverage then yes that is the way to play this. You also could consider puts or short sells of $QQQ if your broker allows.
joseph's avatar
@investorinsight agreed I think I place some orders on this idea! any idea on shorts on oil WTI?
Preston | Investor Insight's avatar
@jdub I don’t know how to short oil directly but you could always consider oil companies like $OXY, $XOM, $MRO, etc.

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